Aquatic Capital Management LLC raised its position in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 122.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 41,298 shares of the company's stock after acquiring an additional 22,698 shares during the period. Aquatic Capital Management LLC's holdings in Principal Financial Group were worth $3,197,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Curio Wealth LLC bought a new stake in Principal Financial Group in the 4th quarter valued at $29,000. BankPlus Trust Department acquired a new stake in shares of Principal Financial Group during the fourth quarter worth $33,000. Covestor Ltd boosted its position in shares of Principal Financial Group by 144.3% in the fourth quarter. Covestor Ltd now owns 540 shares of the company's stock valued at $42,000 after acquiring an additional 319 shares during the period. Sugarloaf Wealth Management LLC grew its stake in shares of Principal Financial Group by 53.6% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company's stock valued at $43,000 after acquiring an additional 195 shares in the last quarter. Finally, Golden State Wealth Management LLC bought a new position in Principal Financial Group during the fourth quarter worth about $46,000. Institutional investors and hedge funds own 75.08% of the company's stock.
Principal Financial Group Trading Up 3.7 %
Shares of Principal Financial Group stock traded up $2.76 on Friday, hitting $76.83. The stock had a trading volume of 1,817,868 shares, compared to its average volume of 1,307,642. Principal Financial Group, Inc. has a twelve month low of $68.39 and a twelve month high of $91.98. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.29. The firm has a market capitalization of $17.28 billion, a P/E ratio of 11.50, a PEG ratio of 0.76 and a beta of 1.01. The stock has a 50 day moving average of $79.42 and a 200 day moving average of $81.72.
Principal Financial Group (NYSE:PFG - Get Free Report) last announced its earnings results on Monday, April 28th. The company reported $1.81 EPS for the quarter, missing the consensus estimate of $1.83 by ($0.02). Principal Financial Group had a net margin of 9.74% and a return on equity of 14.68%. During the same period in the prior year, the firm earned $1.65 earnings per share. Sell-side analysts expect that Principal Financial Group, Inc. will post 8.5 earnings per share for the current fiscal year.
Principal Financial Group Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Monday, June 2nd will be issued a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.96%. This is a boost from Principal Financial Group's previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Monday, June 2nd. Principal Financial Group's dividend payout ratio is presently 65.10%.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on PFG. Wells Fargo & Company increased their target price on shares of Principal Financial Group from $68.00 to $69.00 and gave the stock an "underweight" rating in a research report on Tuesday. UBS Group cut their target price on Principal Financial Group from $93.00 to $80.00 and set a "neutral" rating for the company in a research report on Tuesday. JPMorgan Chase & Co. raised Principal Financial Group from a "neutral" rating to an "overweight" rating and dropped their price target for the company from $95.00 to $92.00 in a research note on Tuesday, January 7th. Piper Sandler increased their price objective on shares of Principal Financial Group from $93.00 to $95.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Principal Financial Group from $88.00 to $86.00 and set a "market perform" rating for the company in a research report on Tuesday. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Principal Financial Group has an average rating of "Hold" and a consensus target price of $83.31.
Get Our Latest Report on PFG
About Principal Financial Group
(
Free Report)
Principal Financial Group, Inc provides retirement, asset management, and insurance products and services to businesses, individuals, and institutional clients worldwide. The company operates through Retirement and Income Solutions, Principal Asset Management, and Benefits and Protection segments. The Retirement and Income Solutions segment provides retirement, and related financial products and services.
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